ALC Q3 2021 Earnings Report
Key Takeaways
Air Lease Corporation announced its Q3 2021 results, showing an increase in revenues driven by fleet growth and cash collections. The company placed a record number of aircraft with lessees and saw a rise in quarterly rental revenue. The Board of Directors also authorized an increase in the quarterly common stock dividend.
Placed a record number of 64 aircraft with lessees, the highest in ALC history.
Recorded $520 million of rental revenue during the third quarter, the highest quarterly rental revenue since ALC’s inception.
Took delivery of 16 aircraft from our orderbook, representing $808 million in aircraft investments.
Increased quarterly cash dividend by approximately 15.6%, from $0.16 per share to $0.185 per share.
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Forward Guidance
The company anticipates continued growth and recovery in the airline industry, with international volume poised for strong recovery as travel restrictions are relaxed.
Positive Outlook
- Growing demand for new aircraft, especially single aisle aircraft.
- Optimism in the future of the business and global airline travel.
- Industry relying on ALC and the leasing sector to achieve fleet modernization objectives.
- Trend persisting for the foreseeable future.
- Global air traffic continues to improve.
Challenges Ahead
- Long road remaining ahead for the recovery of airline financial performance.
- Ongoing manufacturer delays.
- Impact of COVID-19 may continue to affect the business.
- Aircraft delivery schedule could continue to be subject to material changes.
- Delivery delays could potentially extend well into 2022 and beyond.